Wednesday Sector Laggards: Technology & Communications, Services

Looking at the sectors faring worst as of midday Wednesday, shares of Technology & Communications companies are underperforming other sectors, showing a 0.3% loss. Within that group, Texas Instruments Inc. (Symbol: TXN) and Analog Devices Inc (Symbol: ADI) are two large stocks that are lagging, showing a loss of 7.0% and 4.0%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 0.2% on the day, and up 31.11% year-to-date. Texas Instruments Inc., meanwhile, is up 29.04% year-to-date, and Analog Devices Inc is up 25.91% year-to-date. Combined, TXN and ADI make up approximately 3.0% of the underlying holdings of XLK.

The next worst performing sector is the Services sector, showing a 0.2% loss. Among large Services stocks, Chipotle Mexican Grill Inc (Symbol: CMG) and Dollar Tree Inc (Symbol: DLTR) are the most notable, showing a loss of 4.7% and 2.3%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is down 0.2% in midday trading, and up 21.86% on a year-to-date basis. Chipotle Mexican Grill Inc, meanwhile, is up 83.38% year-to-date, and Dollar Tree Inc is up 28.09% year-to-date. Combined, CMG and DLTR make up approximately 1.5% of the underlying holdings of IYC.

Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:

Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Wednesday. As you can see, six sectors are up on the day, while three sectors are down.

Sector % Change
Materials +1.0%
Energy +0.9%
Healthcare +0.5%
Utilities +0.1%
Financial +0.1%
Industrial +0.1%
Consumer Products -0.1%
Services -0.2%
Technology & Communications -0.3%

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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